Prewar Studio
159 Madison Avenue 6-E, Manhattan, NY 10016
For Sale
$470,000
South-facing windows, a separate kitchen, and extensive hallway closets support a flexible studio layout.
Property Size500 SF
Price / SF$940
Days on Market35
Property Features for 159 Madison Avenue 6-E
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
full-time doorman service
live-in superintendent
laundry facilities
furnished roof deck
bike storage
additional storage
Building Details
Building Size
Year Built
Listing Agency:
R New York
Listed By:
Christopher Pasquale
(917) 414-2720
Source:
Carlinwright
Added: Oct 6
Changed: Nov 8
Last Checked: Nov 8 at 1:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of R New York
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Investment Insights
Based on property information with market context.
This 500-square-foot studio in a 1911 prewar cooperative has a separate kitchen and a main living and sleeping area measuring 18' x 17'6". South-facing windows bring daylight into the apartment, and ceilings are approximately 10 feet high. An entry corridor with multiple fitted closets provides storage, while the bathroom includes subway tile, mosaic flooring, a glass-enclosed tub and shower, and mirrored storage.
Building amenities include a full-time doorman, live-in superintendent, elevator, laundry facilities, furnished roof deck, bike storage, and additional storage. The cooperative permits pets and allows pied-à-terres, co-purchasing, guarantors, and parent purchases for children, subject to board approval.
The property is at the crossroads of NoMad, Murray Hill, Midtown South, and Koreatown. The 6 train at 33rd Street is nearby, as are Herald Square and subway and PATH connections.
Building amenities include a full-time doorman, live-in superintendent, elevator, laundry facilities, furnished roof deck, bike storage, and additional storage. The cooperative permits pets and allows pied-à-terres, co-purchasing, guarantors, and parent purchases for children, subject to board approval.
The property is at the crossroads of NoMad, Murray Hill, Midtown South, and Koreatown. The 6 train at 33rd Street is nearby, as are Herald Square and subway and PATH connections.
Key Highlights
- 500‑square‑foot studio with an 18' x 17'6" living and sleeping area
- South‑facing windows and approximately 10‑foot ceilings
- Separate kitchen and multiple fitted closets along the entry corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,644
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 SF
Gross rent
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.6K
$305.9K – $407.8K
NOI $24,469 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
46,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - South-facing windows, a separate kitchen, and extensive hallway closets support a flexible studio layout.
Where is this residential income property located?
The property is located at 159 Madison Avenue 6-E Manhattan, NY.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 500‑square‑foot studio with an 18' x 17'6" living and sleeping area; South‑facing windows and approximately 10‑foot ceilings; Separate kitchen and multiple fitted closets along the entry corridor
